Sharecare is reportedly on its way to the public market via a merger with special purpose acquisition company (SPAC) Falcon Capital Acquisition (NASDAQ:FCAC).
Here’s what potential investors in FCAC stock need to know about the Sharecare SPAC merger news.
- According to a recent report from Reuters, Sharecare and Falcon Capital Acquisition will merge to create a combined company worth almost $4 billion.
- The report claims that before the merger goes through, Sharecare plans to acquire Doc.ai.
- This is an artificial intelligence (AI) startup that operates in the healthcare sector.
- Sources close to the matter are remaining private due to the confidential nature of the talks.
- Sharecare is a digital wellness company founded in 2012.
- Its founder is Jeff Arnold, who also founded the WebMD website.
- The company employs more than 2,400 people and has partnerships with several major players in the healthcare field.
- Falcon Capital Acquisition is a blank check company created to take another company public via merger.
- The company joined the stock market in September with a $345 million initial public offering (IPO).
- It has the backing of investment banker Alan Mnuchin.
- Mnuchin is the brother of former U.S. Treasury Secretary Steve Mnuchin.
- It’s unclear if a Sharecare SPAC merger deal will be announced.
- However, sources say that so long as the deal doesn’t fall through, it could get an official announcement as early as this week.
FCAC stock was up 1.7% as of Wednesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.